UNITED STATES: PRESIDENT REAGAN SIGNS LOAN AGREEMENT TO THE AFRICAN DEVELOPMENT BANK

Record ID: 183997
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  • Title: UNITED STATES: PRESIDENT REAGAN SIGNS LOAN AGREEMENT TO THE AFRICAN DEVELOPMENT BANK
  • Date: 9th February 1983
  • Summary: 1. SV President Reagan speaking (SOT) 0.34 2. SV Audience listening to Reagan (SOT) 0.37 3. GV President Reagan signing document watched by president of African Development Bank, Wila D. Mung'omba 1.04 4. SV Pressmen filming proceedings 1.06 5. SV President of African Development Bank addressing meeting (SOT) 1.34 TRANSCRIPT (SEQ. 1 AND 2) REAGAN: "We're painfully aware that Africa's economic development is encountering very difficult obstacles. As the leader in the cause of progress, the African Development Bank group, along with other assistance organisations, must strive for a more effective use of the limited development funds. The African governments which carry the heaviest responsibility for their own domestic economy, or economic conditions, must pursue a sound growth orientated policy if progress is to be made." MUNG'OMBA (SEQ 5): "Mr. President, the ceremony that we have just witnessed, is significant in many respects, but I think it's most obviously significant in that it marks the clearest commitment of the government and people of this great country to the development objectives and aspirations of the African peoples, as collectively expressed in the institutions that form the African Development Bank group." InitialsAL/SW Script is copyright Reuters Limited. All rights reserved
  • Embargoed: 24th February 1983 12:00
  • Keywords:
  • Location: WASHINGTON, UNITED STATES
  • Topics: General
  • Reuters ID: LVAAZXTY3BTWJRZTRYMQQ3TT62JO
  • Story Text: WASHINGTON, UNITED STATES

    In Washington, President Ronald Reagan announced a large loan on February 8 to the African Development Bank (ADB). He said that African governments must commit themselves to growth policies and make more effective use of the limited funds available to them. The president of the A.D.B., Wila D. Mung'omba, said it was a significant move in demonstrating the commitment of the U.S. to developing the African economy. The bank was established at Lusaka in 1963 and gives interest free loans over 50 years for investment in transport, industry, agriculture and education. A total of 22 non-African states, from Europe, America and the Middle East, are also participating members.

    <strong>Source: REUTERS NEW YORK</strong>
  • Copyright Holder: REUTERS
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